MILLS MUSIC TRUST

MILLS MUSIC TRUST (MMTRS) was established on December 3, 1964, to acquire the right to receive a deferred contingent purchase price payment. This payment originated from the sale of the music and lyric copyright catalogue (the "Catalogue") by Mills Music, Inc. ("Old Mills") to a newly formed company on December 5, 1964. The Trust receives these contingent payments, which are based on royalty income generated by the Catalogue, until the end of the year in which the last copyright in the Catalogue expires and cannot be renewed. Currently, EMI Mills Music Inc. ("EMI"), the owner of the copyrighted materials in the Catalogue, is responsible for making these contingent payments to the Trust. Sony/ATV Music Publishing LLC ("Sony/ATV") acts as the administrator and manager for EMI and the Catalogue. HSBC Bank, USA, N.A. serves as the Corporate Trustee, and Lee Eastman is the Individual Trustee. The Trust's sole activity is to receive quarterly contingent payments from EMI and distribute these amounts to the registered owners of Trust certificates ("Unit Holders"), who represent interests in the Trust ("Trust Units"). These distributions occur after the payment of, or withholdings for, the Trust's expenses and liabilities. The Trust is prohibited from engaging in any other business activities.